Indicator - Hammer+

Hammer+ Candlestick indicator
1: Candlestick found
0: not candlestick found
Remove from Favorite Scripts Add to Favorite Scripts
The best and only Pattern Scanner in TradingView
You can request free access commenting the indicator or via private message. Thanks!


why is it looking for a red candle with long downtail?
could you elaborate your idea why this is going to be a bullish reversal?
QodingTheMarkets TerrenceChen
@TerrenceChen, sorry for the delay, I was working in my new pattern scanner script day and night. Regarding your question I based the candlestick analysis on the book "Technical Analysis of the Financial Markets" from John J. Murphy. There the definition of a hammer pattern should be a red candle. Thank you for your question!
Is the Head and Shoulders pattern valid here? Do you trade that pattern? Thanks
QodingTheMarkets DawnButlers
@DawnButlers, I will make a H&S pattern scanner in the near future. So stay tune and thanks for your feedback
QodingTheMarkets DawnButlers
@DawnButlers, I just finished my Head and Shoulder scanner if you are interested. You can check it out here:
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out